TOP banker, Elisha Mushayakarara, is set to leave ZB Financial Holding (ZBFH) at the end of the month after holding the post of group chief executive officer for the past 20 years.
By Our Staff
He will be succeeded by ZB managing director Ronald Mutandagayi, who is set to take over the reins next month.
Standardbusiness first reported about Mu-shayakarara’s departure and Mutandagayi’s proposed ascendancy in February.
In a notice, ZBFH said it was grateful to Mushayakarara “for the able and wise leadership he provided to the group, as it successfully went through various challenges”.
Mushayakarara worked in both the private and public sectors of the economy.
He joined ZBFH in 1993 from the Ministry of Finance where he was senior secretary of Finance for 12 years.
Before joining Treasury, Mushayakarara had worked for the Zambian Finance ministry as chief budget analyst.
Mutandagayi joined the group as head of Finance and Risk in February 2004, rising through the ranks to his current position in 2009.
Before joining ZBFH, Mutandagayi worked for Standard Chartered Bank and NDH Holdings.
ZBFH has interests in banking, life assurance, short-term insurance, reinsurance, building society, asset management and stockbroking.
Its flagship arm, ZB Bank, has been on a growth path, increasing its market share in terms of deposits.
Last year, ZB’s deposits were US$202 354 202, making it the seventh largest in the country.